right of redemption

(redirected from Redemption Right)

Right of redemption

The right to recover property that has been attached by paying off the debt .
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Right of Redemption

In foreclosure or repossession, the right of a borrower to receive back the stated property before it is re-sold (and sometimes after it is re-sold) in exchange for repaying the debt guaranteed by the property that was foreclosed or repossessed. The length of time one has the right of redemption varies, but it can be for up to one year.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

right of redemption

The statutory right to redeem property either after it has been set for foreclosure or sometimes after the foreclosure itself. Postforeclosure redemption rights typically belong to the borrower,to any other persons with interests in the property,and to creditors of the borrower.It gives such persons the right to buy the property from the foreclosure purchaser,even if the purchaser was the lender, for the foreclosure price plus accrued interest at a statutorily set rate.The right of redemption may extend as long as one year in some states.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Under the confirmation of Mascot's redemption right, Nasdaq Helsinki Ltd has suspended public trading in Amer Sports' shares as on 16:16 hours on 26 August 2019.
M2 EQUITYBITES-August 27, 2019-Amer Sports reports confirmation by Arbitral Tribunal of Mascot Bidco's redemption right regarding its shares; Trading in Amer Sports shares suspended
Generally, the former technique is employed to price the reverse mortgage when the redemption right has not been taken into account, and in the opposite case the latter technique is applied.
JDSU (NASDAQ: JDSU) (TSX: JDU) reported that according to the terms of the Indenture governing its 1% senior convertible notes due 2026, certain holders of the notes have surrendered their notes for purchase by JDSU, exercising their redemption right under the Indenture.
The Pioneers will get their shot at redemption right away, playing a rematch of last year's district final versus Algonquin in the their season-opener at 1:30 p.m.
According to the court, the redemption right does not create "an existing, unconditional, and legally enforceable obligation for the payment." Instead, the exercising of the redemption right by the shareholders' written election creates the obligation to pay.
iPath ETNs generally have a daily redemption right and investors can trade them on an exchange at market prices.
Separately, the company said it is exercising its optional redemption right to call in all the outstanding high yield bonds on March 17, saying it will significantly reduce its future finance charges.
NORDIC BUSINESS REPORT-June 17, 2019-Kotipizza reports confirmation by Arbitral Tribunal of Orkla' redemption right over minority shares
Global Banking News-June 17, 2019-Kotipizza reports confirmation by Arbitral Tribunal of Orkla' redemption right over minority shares
It first argued that it was the parties' intent that the payments be treated as interest and that the redemption right itself created a debt.